Snapchat’s founder and current CEO, Evan Spiegel, admitted Tuesday that the company’s sole app is too difficult to use and promised to redesign it. This is a pretty startling announcement to change some of the app’s core features less than a year after the company went public.

“One thing that we have heard over the years is that Snapchat is difficult to understand or hard to use, and our team has been working on responding to this feedback,” Snap founder and CEO Evan Spiegel said on the conference call with analysts on Tuesday, “As a result, we are currently redesigning our application to make it easier to use. “

Couldn’t this have a potentially negative impact on Snapchat’s business? .

“We don’t yet know how the behavior of our community will change when they begin to use our updated application,” Spiegel said. “We’re willing to take that risk for what we believe are substantial longterm benefits to our business.”

About time that the company took note that they were most likely alienating older users who found the famous design difficult to get the hang of.

The startling admission came on the heals of Snapchat’s disatrous third quarter results, coupled with that hefty $40 million charge as a result of misjudging demand for its hardware product.

Snapchat’s stock plunged more than 16% in after hours trading on Tuesday.